Beach Investment Counsel Inc. PA Sells 7,223 Shares of CRH plc (NYSE:CRH)

Beach Investment Counsel Inc. PA trimmed its holdings in shares of CRH plc (NYSE:CRH) by 4.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 169,324 shares of the construction company’s stock after selling 7,223 shares during the period. CRH makes up 2.1% of Beach Investment Counsel Inc. PA’s investment portfolio, making the stock its 16th largest holding. Beach Investment Counsel Inc. PA’s holdings in CRH were worth $15,666,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Deseret Mutual Benefit Administrators acquired a new stake in CRH in the 3rd quarter valued at $25,000. UMB Bank n.a. increased its position in shares of CRH by 72.7% during the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock worth $28,000 after acquiring an additional 125 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of CRH in the 4th quarter worth about $32,000. Meeder Asset Management Inc. bought a new position in CRH in the 3rd quarter valued at about $35,000. Finally, Baillie Gifford & Co. boosted its stake in CRH by 70.7% during the 3rd quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock valued at $36,000 after purchasing an additional 162 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

CRH Stock Performance

Shares of CRH opened at $98.16 on Tuesday. CRH plc has a fifty-two week low of $71.18 and a fifty-two week high of $104.23. The business has a 50-day moving average of $97.23 and a 200 day moving average of $92.31. The firm has a market cap of $66.67 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 1.08 and a beta of 1.30.

CRH Cuts Dividend

The firm also recently disclosed a Variable dividend, which was paid on Wednesday, December 18th. Investors of record on Friday, November 22nd were issued a $0.262 dividend. This represents a yield of 1.4%. The ex-dividend date was Friday, November 22nd. CRH’s dividend payout ratio (DPR) is presently 21.00%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Hsbc Global Res upgraded CRH to a “strong-buy” rating in a report on Monday, November 11th. Morgan Stanley lifted their price objective on shares of CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Truist Financial increased their target price on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, November 8th. Barclays began coverage on shares of CRH in a report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price target on the stock. Finally, HSBC initiated coverage on shares of CRH in a research note on Monday, November 11th. They issued a “buy” rating and a $116.00 price objective for the company. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, CRH has a consensus rating of “Buy” and an average target price of $107.75.

CRH Profile

CRH plc, together with its subsidiaries, provides building materials solutions in Ireland and internationally. It operates through four segments: Americas Materials Solutions, Americas Building Solutions, Europe Materials Solutions, and Europe Building Solutions. The company provides solutions for the construction and maintenance of public infrastructure and commercial and residential buildings; and produces and sells aggregates, cement, readymixed concrete, and asphalt, as well as provides paving and construction services.